The HybridBTC.pendle vault has been a successful test for future HybridBTC vaults. It has enabled over 10,000 users to earn 4–12% yield on their Bitcoin by leveraging Pendle on Ethereum and transferring yield back to BOB.

Yield markets are dynamic and change fast. To continue providing the best possible opportunities, yield for the HybridBTC.pendle vault will stop accruing on September 8th and instead, we will be working with operators specialized in seeking the best BTC yield, starting with our partners Solv Protocol.

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What You Need to Know

  • Redeem HybridBTC.pendle anytime: Users can redeem their HybridBTC for xSolvBTC at any time, even after yield accrual has stopped on September 8th. 
  • Unwind leveraged positions: If you’ve used HybridBTC.pendle in Euler, you’ll need to unwind your position before redeeming your assets.
  • Claim yield: After September 8th, all HybridBTC holders can claim any uncollected yield directly at bobrise.xyz. Simply connect your wallet and claim your rewards.
  • New BTC DeFi opportunities: Users can deposit SolvBTC on BOB into Solv’s BTC+ vault and SolvBTC.JUP vault. 
  • Solv vaults added to BOB Earn: In addition to depositing SolvBTC via the Solv app, you can use BOB Earn to deposit native BTC.

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New Yield Vaults on BOB

While the HybridBTC.pendle vault is winding down, the opportunities keep coming. Solv has recently launched two new Bitcoin yield vaults on BOB: BTC+ and SolvBTC.JUP.

BTC+ is a hybrid strategy vault providing returns for BTC without leaving the Bitcoin ecosystem, featuring DEX Liquidity Provision, On-chain Lending Protocols, Delta-neutral Funding Rate Arbitrage, Multi-chain Staking & Incentives Farming, & RWA Yield.

SolvBTC.JUP is a liquid staking token for Bitcoin, allowing users to earn returns by providing liquidity to the Jupiter Liquidity Provider (JLP) Pool on Solana, which is used by traders for leveraged trading. Users earn yields generated from trading fees, borrowing fees, and other pool activities.

Looking ahead, new HybridBTC vaults are planned, offering even more opportunities to put your Bitcoin to work.

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How to Transition from Hybrid BTC to BTC+ or SolvBTC.JUP

Both vaults accept SolvBTC, so you’ll first need to unstake the xSolvBTC you redeem from HybridBTC.pendle, giving you SolvBTC. This can be done instantly in the Solv app.

  1. Redeem your HybridBTC for xSolvBTC on app.gobob.xyz.
  2. Unstake xSolvBTC for SolvBTC in the Solv app.
  3. Deposit SolvBTC into the new BTC+ or SolvBTC.JUP vaults on BOB.
  4. After September 8th, claim any remaining yield at bobrise.xyz.

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Stay Tuned

We’re excited about the next chapter for HybridBTC and the new yield strategies coming to BOB. Thank you for being part of this journey. If you have any questions or need support, head to our Discord and open a ticket.